The proposal was the latest attempt to strike a deal with the authority, which controls $20 million that could be used to improve the property. The group denied a previous proposal by the mall owner, who later filed suit.

Bill Calderon, administer of the Southwest Houston Redevelopment Authority, sent out a press release today saying why it voted against the proposal.

Here are the reasons boiled down:

* It did not provide for the redevelopment of the entire mall site, but rather just the core of the mall.

* It was based on a redevelopment of a Fort Worth area mall, the model for which is not appropriate for the Sharpstown Mall site due to the different area demographics and ownership structure at the mall site.

* It was being submitted by SMT (Sharpstown Mall Texas, the official name of the entity that owns the mall), while it was actively pursuing litigation not only against the authority’s board members, its executive director, and its administrator, but also against other major property owners at the mall site.

The press release said the board members still want to participate in a “meaningful redevelopment of the Sharpstown Mall property, but concluded that the SMT proposal would not be a good investment of taxpayer dollars.”

Boxer Property could not be reached late today.

UPDATE: Justin Segal of Boxer Property said he’s been traveling, but he e-mailed me this response to the board’s decision.

“We were sorry to hear about (board chairman) Mike Laster‘s decision, especially as it was a chance for the board he chairs to redeem itself by fulfilling its mandate to revitalize the area. We are moving forward without their assistance – and without their input.”